Zacks Investment Research upgraded shares of PBF Energy Inc. (NYSE:PBF) from a sell rating to a hold rating in a report published on Friday morning.

According to Zacks, “PBF Energy Inc. operates as a petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. Its refineries are located in Toledo, Ohio, Delaware City, Delaware and Paulsboro, New Jersey. The company sells its products in the northeast and Midwest United States, as well as in other regions of the United States and Canada. PBF Energy Inc. is based in Parsippany, New Jersey. “

Other equities research analysts have also recently issued reports about the stock. Scotiabank set a $24.00 price target on shares of PBF Energy and gave the company a buy rating in a report on Monday, June 26th. Citigroup Inc. decreased their price target on shares of PBF Energy from $37.50 to $33.50 and set a buy rating for the company in a report on Monday, July 17th. Credit Suisse Group cut shares of PBF Energy from a neutral rating to an underperform rating and set a $18.00 price target for the company. in a report on Tuesday, June 20th. BidaskClub cut shares of PBF Energy from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Piper Jaffray Companies restated a hold rating and set a $20.00 price target on shares of PBF Energy in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $23.39.

PBF Energy (NYSE:PBF) opened at 22.77 on Friday. PBF Energy has a 1-year low of $18.48 and a 1-year high of $30.98. The firm has a market cap of $2.50 billion, a PE ratio of 13.63 and a beta of 1.39. The company has a 50 day moving average price of $22.04 and a 200 day moving average price of $22.23.

PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.26. The firm had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. The business’s quarterly revenue was up 69.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.65) earnings per share. On average, equities research analysts forecast that PBF Energy will post $0.42 earnings per share for the current year.

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In related news, CEO Thomas J. Nimbley bought 50,000 shares of PBF Energy stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the purchase, the chief executive officer now owns 290,000 shares in the company, valued at $5,710,100. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Connor Thomas L. O bought 10,000 shares of PBF Energy stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average price of $20.17 per share, with a total value of $201,700.00. Following the purchase, the insider now owns 105,135 shares of the company’s stock, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in PBF. Retirement Systems of Alabama bought a new stake in PBF Energy during the second quarter valued at $3,148,000. Sei Investments Co. boosted its stake in PBF Energy by 391.7% in the second quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 4,814 shares during the last quarter. Texas Permanent School Fund bought a new stake in PBF Energy during the second quarter valued at $1,783,000. Great West Life Assurance Co. Can boosted its stake in PBF Energy by 167.1% in the second quarter. Great West Life Assurance Co. Can now owns 75,197 shares of the oil and gas company’s stock valued at $1,673,000 after buying an additional 47,041 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in PBF Energy by 7.3% in the second quarter. Janney Montgomery Scott LLC now owns 117,720 shares of the oil and gas company’s stock valued at $2,620,000 after buying an additional 7,981 shares during the last quarter.

PBF Energy Company Profile

PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.

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Analyst Recommendations for PBF Energy (NYSE:PBF)

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